Binance says 90% of losses from $6.3bn hack covered as FBI says North Korea behind attack
Summary
Binance says it has replaced 90% of the $6.3 billion in cryptocurrency stolen in a hack and will cover the rest. The FBI attributed the October 29, 2026, attack to TraderTraitor, a group it linked to North Korea, and said it had seen the stolen assets converted into Ethereum.Key Facts
- Binance said the remaining 10% of stolen tokens are less liquid and may take longer to replace.
- Co-CEO Richard Teng said users would not bear the financial impact of the incident.
- Binance suspended withdrawals after the hack and said it expected to resume them on Sunday.
- The FBI said TraderTraitor was responsible for the theft and urged companies to block transactions linked to addresses used by the group.
- The FBI said the stolen assets could be laundered through decentralized finance services and instant swaps.
- Binance said it was using its Secure Asset Fund for Users, its Futures Insurance Fund, and corporate funds to replace the assets.
- After news of the hack, Bitcoin fell nearly 5%, Ethereum nearly 6%, and BNB nearly 10%.
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